• International conference on construction engineering and project management
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• 2009.05a
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• pp.1223-1230
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• 2009

In the construction industry, Case-Based Reasoning (CBR) is considered to be the most suitable approach and determining the attribute weights is an important CBR problem. In this paper, a method is proposed for determining attribute weights that are calculated with attribute relation. The basic items of consideration were qualitative and quantitative influence factors. These quantitative factors were related to the qualitative factors to develop a Cost Drivers-structural equation model which can be used to estimate construction cost by considering attribute weight. The process of determining the attribute weight-structural equation model consists o 4 phases: selecting the predominant Cost Drivers for the SEM, applying the Cost Driers in the SEM, determining and verifying the attribute weights and deriving the Cost Estimation Equation. This study develops a cost estimating technique that complements the CBR method with a Cost Drivers-structural equation model which can be actively used during the schematic estimating phases of construction.

• The Journal of Information Systems
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• v.22 no.3
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• pp.43-58
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• 2013

This work investigates factors that may affect the choice of real options by ERP project managers. Financial theory suggest that these factors include risk-free interest rate, time to maturity, volatility of net present value, and options exercise price. Other than these factors, we are interested in the exogenous risks related to external uncertainties about technological cost, user learning and consulting, and so forth and we argue these risks should have a significant impact upon the volatility of net present value. To validate these factors empirically, we collected survey questionnaires from ERP project managers in Korea. We find that perceived exogenous risks with regard to ERP projects influence volatility and additionally find that ERP project managers prefer contract options of the project when the volatility of the project is expected to be high. We expect that this work will not only validate theoretical propositions but help project managers consider ERP options strategically based on these factors.

• Journal of Information Technology Services
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• v.17 no.2
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• pp.69-81
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• 2018

This study performed an economic analysis and tested the viability of a public computerization project to create a comprehensive information system for public e-procurement for small and medium-sized businesses (SMBs). The study found that the estimated costs of the project included 4.3 billion won to build the system and 710 million won per year to maintain the system once it is built. The project's estimated total benefits amounted to 6.66 billion won per year, including 5.871 billion won per year in increased convenience for SMBs that use the system, 406 million won per year in benefits for public institutions, and 383 million won per year in benefits for the institution "A" to adopt the system. We used the contingent valuation method (CVM) to estimate the benefits to SMBs, which would be the main participants of the project. The survey found that the SMBs were willing to pay an average fee of 170,136 won. we conducted an economic analysis by applying a 5.5% social discount rate over an analysis period of 10 years and found a benefit-cost ratio of 5.02 and a net present value of 40.201 billion won, which indicated a very high economic viability of the project. The results of this study can be an important reference when deciding whether to pursue computerization projects in the public sector.

• Journal of Construction Engineering and Project Management
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• v.3 no.3
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• pp.35-41
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• 2013

All infrastructure projects are said to be inter-dependent, uncertain and labour-intensive in nature. There is no exception for building services sub sector. For a real time project such as 'The construction, extension and refurbishment of Employees' State Insurance Corporation (ESIC) Hospital at Tirupathy, India with total area of 45,000 square feet at an estimated cost of 1100 million rupees, a generic process model is developed to simulate the effect of set of identified variables on construction project. The 'Stocks and Flows' of dynamic model affords relevant insights to project managers, who apply this knowledge when designing better performance through more appropriate project planning. It is concluded from the model-based approach that building services works can be improved through specific better focussed managerial efforts, such as an increasing coordination effectiveness at the planning stage, clarifying prerequisite conditions prior to installations. Otherwise, pending works arising from work clashes can lead to knock-on effects resulting in productivity constraints and pressures, as well as more rework and demolition. Current study reveals that the model enables deep insight into various interdependent processes, their by improving construction performance levels, by addressing the dynamics of design errors and defective works, and recovering delayed schedule.

• Journal of Information Technology Services
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• v.16 no.2
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• pp.85-96
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• 2017

The revised "Software Industry Promotion Law" has been effective from 2013. This law is to be basis of the domestic public information sector and increases the opportunities for small and medium-sized firms in participating the public IT projects. The shortcomings of this law may be the increase of the risk and the decrease of quality of projects. These suggest that the competencies of project manager (PM) s are critical. Also, in general, an SI (System Integration) project is a one that provides a customer with a customer-tailored system for system integration. Particularly, in an SI project involved in a public institution or a large corporation, the ripple effect of success or failure of a project is becoming greater as the system requires higher cost and more time due to high complexity and large scale. One of the solutions to address these problems is to investigate the competencies of a PM. Thus, in this paper, we derived the major competencies using the RGT (Repertory Grid Technique) and categorized the resultant constructs using the content analysis. In addition, we analyzed the level of importance of competencies by applying the AHP (Analytic Hierarchy Process). The conclusion was that Problem-solving Skill and Leadership were the most important competencies of a project manager.

• Journal of Technology Innovation
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• v.6 no.2
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• pp.122-158
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• 1998

This study empirically examined different patterns of collaborative R&D project with their key success factors(KSFs), using data from 82 projects in the Korean electronic parts industry. The patterns of R&D collaboration were categorized into 4 types by two criteria development motive(technology Push/market pull) and Project initiator (focal firm/partner). The bivariate relationships revealed that project characteristics (technological complexity, market uncertainty), management characteristics (participation in project formulation), problem solving characteristics(problem solving performance of the focal firm, users active role in problem solving, active role of university or research institute in problem solving) and success rates appear to be different among four types of collaboration. Each type of collaborative R&D projects also had different KSFs. The KSFs of type 1 (technology Push and focal firm initiation), for instance, include the strategic importance of the project, focal firms share of cost, active role of university or research institute in problem solving, while those of type 4(market pull and customer initiation) cover reliability of partner relationship, a time at partners involvement, information sharing. The findings suggest that the different contingencies brought different patterns and KSFs of collaborative R&D project, since different information, resources, and partners roles were needed to successfully implement the projects according to development motive and project initiator Finally, managerial, policy, and theoretical implications for the collaborative R&D activities in the Korean electronics parts industry were discussed, based on empirical results of this study.

• Journal of Fisheries and Marine Sciences Education
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• v.28 no.6
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• pp.1781-1791
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• 2016

This study aimed to analyze the economic effectiveness on environment improvement project that has been implemented in five fishing grounds of Taean-gun which had been damaged by the Hebei Spirit oil spill accident. In the analysis, first, this study performed the survey on residents perceptions about the environment improvement project. Second, the cost-benefit analysis was carried out to evaluate the economic effectiveness of the project. The survey results of residents perceptions indicated that the damage of oil spill was considerable in the target areas. It also showed that residents wanted to continue the environment improvement project and the levels of project satisfaction were quitely high. The economic results showed that 3 areas(Woong-do, Wang-san, and Dang-mi) would have positive values of NPV and B/C ratio, but the other(Nu-dong) would have negative values. The findings of this analysis could be used as the base data for increasing operational efficiency of future environment improvement projects.

• Korean Journal of Construction Engineering and Management
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• v.5 no.5 s.21
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• pp.84-92
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• 2004

Construction work varies with the project types. However, the success of all project types depends upon three conditions i.e. schedule, quality and cost. If these three conditions are fulfilled, then project said to be successful. In this paper, scheduling of a construction Project has been dealt with the application of CCPM method. CCPM has been introduced as a new theory in construction industry in 1997 at the United States, but its application is still insufficient in domestic field due to the absence of systematic study, A simulation has been conducted in a Bridge construction project to validate the possibility of CCPM in order to complement PERT/CPM in construction field. The result of study shows that the CCPM could be effective to reduce the project time duration than existing PERT/CPM technique.

• East Asian Journal of Business Economics (EAJBE)
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• v.12 no.1
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• pp.35-42
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• 2024

Purpose: A railroad project is a complex system with large construction costs in the initial stage and ongoing operating costs over its lifecycle. Current railroad projects tend to be based on construction options, which leads to huge deficiencies in operating costs. This phenomenon results from a lack of appropriate tools to accurately estimate a railroad project's lifecycle costs. This study attempts to analyze the major components of railroad operating costs and to propose a decision-making system for analyzing the long-term lifecycle costs of railroad projects. Research design, data and methodology: We review the literature and analyze the current status of railroad operating costs in Korea and overseas. Based on previous projects, a framework for project options and operating costs is proposed. The framework is applied to actual railroad projects to demonstrate the validity of the model. Results: Case analysis shows that our framework is comprehensive in analyzing the primary aspects of railroad operating costs and plays an effective role in choosing various railroad project options. This study points out that the railway project operates inefficiently because estimating long-term costs without reflecting specific project options causes many errors. Conclusions: A major contribution of this study is the development of an improved framework for accurately estimating operating costs and providing policymakers and engineering firms with a holistic decision support system. Detailed components in estimating operating costs of the railroad business are discussed. And we present a decision-making tool that policymakers and private businesses can use in planning the railroad business.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.102-112
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• 2001

It has been passed $5\~6$ years since Construction Management introduced in Korea, but a few government projects have been presented as CM instances. We performed CM service, on behalf of the foreign Client, in the Insa-dong construction, I-Project. Even though there were many limits in cost, time and other aspects, we have attained satisfaction of the Client and successful businesses of all the construction parties as adopting the advanced management methods. Many advanced construction methods have been applied for the purpose of time reduce, cost save and quality assurance as well as to the webbased project management has been imported to overcome the limits of time and place. They have actualized to increase the productivity of the project by managing the floor to floor cycle and quality systemically pursuant to ISO 9002, and by adopting Real-name construction and completion system (or individual activity. While carrying out this project, it is possible to establish mutual reliability and understanding enable to resolve the issues occurring in the early stage due to insufficient understanding of CM, lack of communications and team work, indistinct work scope through continuos training and conferences. Additionally, we became to share business targets among the parties and promoted the project in confidence. We wish that the success of I- project to be rated as a standard model of CM in Korea.